Vivint to be acquired by Blackstone.

• Author: Cutler, Sarah
• Position: Around Utah

Provo--VIVINT and BLACKSTONE announced a definitive agreement under which a fund managed by Blackstone will acquire Provo-based Vivint for $2 billion--one of Utah's largest transactions. Vivint is the largest home automation services company in North America and second-largest residential security services provider.

"This acquisition by Blackstone is the next milestone needed to continue executing on our vision of connecting customers to the things that matter most to them--their homes, families, health, cars and businesses," says Todd Pedersen, co-founder and CEO of Vivint. "Our partnership with Blackstone will enable us to expand upon our technology-based platform, accelerate the development and release of new services and enter new markets. I am excited about our future and honored to lead the company into this exciting new era."

The partnership with Blackstone is expected to enable Vivint to extend its position in the home automation marketplace, while developing innovative new technologies, products and services designed to expand the company's influence beyond the home environment into the automobile, the...